Saturday, 30 May 2020
20/05/2020 05:47 PM

KUALA LUMPUR, May 20  -- Cross-border buyers, mostly from Asia sought out 500,000 houses in the G7 countries with an aggregate value of US$250 million in 2019, according to Juwai IQI.

The Chinese international property portal said a significant numbers came from Malaysia, Hong Kong and Taiwan, while others were from Singapore, India, Japan and Korea.

The largest number of cross-border property buyers originated in mainland China.

“Asia now has nearly the same number of ultra-high net worth individuals as Europe, but its population of the wealthy is growing at almost twice the rate as in Europe: 44 per cent versus 23 per cent, respectively,” Juwai IQI said in a statement today.

G7 or the Group of Seven is an informal bloc of industrialised democracies made up of Canada, France, Germany, Italy, Japan, the United Kingdom (UK), and the United States (US).

Juwai IQI said in a survey conducted before the COVID-19 pandemic, the top five countries where wealthy Asians intend to purchase residential property are the US, the UK, Singapore, Australia, and Canada.

Asians, including mainland and Hong Kong Chinese invested US$257.3 billion in the US residential real estate over the past decade, far exceeded the next largest buyer group, Canadians, who acquired about half of that amount at $129 billion of the US real estate during the same period.

In Malaysia, eight of the top 10 foreign real estate investor groups hail from other parts of Asia.

“Official data on participation in the Malaysia My 2nd Home visa programme reveals that citizens from mainland China, Hong Kong, Taiwan; Japan, Bangladesh, Korea; and Singapore acquire more visas and likely also more Malaysian real estate than do those from any other parts of the world,” it said.

In the UK, foreigners are the predominant buyers of London’s prime property market, accounting for 55 per cent of prime sales and spending £8.2 billion in Greater London during the second half of 2019.

In Australia, Asian investors, including mainland and Hong Kong Chinese, were officially cleared to acquire US$135 billion of real estate over the past decade.

Apart from mainland and Hong Kong Chinese, the biggest Asian investors were from Singapore, Malaysia, Japan and South Korea.

Singapore is a popular destination market for other Asian buyers, especially wealthy professionals and business owners due to its political stability and stable markets.

In New Zealand, Asian investors, including mainland and Hong Kong Chinese acquired homes worth US$1.1 billion in 2018 alone, nearly double the US$620 million invested by Australians and nearly 10 times the $140 million acquired by UK buyers.

In the United Arab Emirates, Asian buyers from India, China, and Pakistan are the most numerous foreign property investors, apart from those from other Persian Gulf countries.

Asians invested US$6.23 billion per year into Dubai alone, according to the most recent official data from the Dubai Land Department.

Juwai IQI executive chairman Georg Chmiel said the portal is the first truly global real estate portal for Asian buyers, with listings from 91 countries.

"The COVID-19 pandemic has dealt a painful blow to economies all over the world. One bright spot for real estate markets is that the pandemic has also given added motivation to cross-border buyers from Asia.” he said.

Juwai IQI today also announced the launch of, the first global portal for non-China Asian consumers who want to purchase real estate almost anywhere in the world.

The new portal was launched in English and simplified Chinese, with further languages to come.

Via the two portals, and, Juwai IQI markets some six million listings per year from 91 countries to more than 3.3 million monthly users with a combined value of US$4 trillion. 

“Even before the launch of, already served more than 3.3 million users per month, more Asian cross-border property buyers than any other portal or real estate company.

“The more than 8,000 salespeople in our IQI network sold US$1 billion of property in 2019 and make up the largest network of real estate agents in Asia,” Juwai IQI group executive director Daniel Ho added.





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